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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Plymouth Rapid Transit System muscle car concepts going to auction

Over the past decade, Chrysler has built a reputation for amazing custom concept cars based on production vehicles for the SEMA Show and the Easter Jeep Safari. But the company's customization tradition has much deeper roots that include this collection of muscle car concepts headed for Mecum's Indianapolis auction this May. The collection includes three Plymouths that were featured in the traveling display called the Plymouth Rapid Transit System, and a Dodge that appeared at the 1969 Chicago Auto Show. The possible crown jewel of these cars is the 1971 Plymouth Road Runner, and that's simply because the car is completely unrestored with just 1,300 miles on the odometer. Apparently the owner of the shop that built the car for Chrysler got it back after the Rapid Transit System tour ended and took care of it until he later sold it to the late Steven Juliano, whose estate is now selling this collection of cars. Like all of these cars, modifications were mainly visual, but they were extensive. A custom nose and headlight lenses were fitted that added six inches of length, according to Mecum. The car's bumpers were removed completely, as were the external door handles. Recessed hood scoops were added to the hood, and the trunk lid was lowered by four inches to create a rear wing. The taillights were given red, yellow and green lenses like traffic lights. But the best additions were molded Road Runner head marker lights. The interior is mostly unchanged, and the engine is a stock 383-cubic-inch V8 with an automatic transmission. It also has power steering and brakes and the Plymouth Road Runner horn, which makes a "Beep! Beep!" sound like the cartoon the car is named after. 1970 Plymouth Duster View 12 Photos Then there's the 1970 Plymouth Duster in the collection with arguably the best paint scheme. It's bright green with groovy "DUSTER" lettering on the hood and various contrasting panels. It's actually the second scheme the car used, as according to Mecum, the car was built for the 1970 tour and then redesigned for the 1971 tour. The paint is matched with color-coordinated wheels and blue and green floral pattern floor mats. There are unique body changes, too, such as the custom headlight housings, functional brake air ducts up front, fake extractor vents above the rear window, racing-style fuel cap and rectangular exhaust. Mechanically, it has a stock 275-horsepower 340-cubic inch V8 and four-speed manual transmission.

2020 Dodge Charger Widebody Daytona wrecked with 296 miles on the clock

The Dodge Charger SRT Hellcat Widebody Daytona 50th Anniversary Edition can do 0-60 faster than you can say its name, and one new owner appears to have proven that it can all go wrong just as quickly. This one-of-501 sedan currently resting on a Copart lot in California has already met its end.  Dodge named the model after NASCAR's season-opening venue. The Daytona 500 gets the numerical part of its name from the length of the race — 500 miles. This poor White Knuckle example didn't even live long enough to put that much distance behind it; it shows just 296 miles on its odometer, says Motor1.com, who spotted the wreck on Copart.  This poor Widebody suffered a front-end accident severe enough to pop the airbags, which is never a good sign. Both front fenders took a beating, and the passenger-side panel was ripped off completely. The hood was badly buckled in several places, and the bumper covers appear pretty badly thrashed. It's difficult to tell from these photos whether the front crash structure was badly mangled, but we suspect it didn't come out unscathed. The passenger-side front suspension clearly took a beating, as the tire on that side was de-beaded from the wheel.  On the bright side, multiple images show that the car's electrical system is intact; whether it starts and runs is another matter.  The Daytona 50th Anniversary Edition package is, fundamentally at least, little more than a plaque, a sticker package, and a re-rated 717 peak horsepower. What you really get for your money is exclusivity, and thanks to this little "oops," there's more of that to be had. Only 501 were built (to commemorate the number of production units required to homologate the original Charger Daytona for NASCAR racing); just 451 went to U.S. dealers, and the other 50 were reserved for the Great White North where it's built. These models are so scarce that some dealers were already tacking on tens of thousands of dollars in additional markup. Back in December, at least one dealer had slapped a $25,000 market adjustment on a Daytona model (in the same "White Knuckle" finish as the wrecked car here), and others were being spotted with similar tacked-on premiums.  Related Video: